Crypto Whales Position Ahead of April US CPI Print

As the April US Consumer Price Index (CPI) print approaches, cryptocurrency investors are keeping a close eye on market trends and whale activity. Data from Santiment and Nansen shows that large Ethereum (ETH) holders have been accumulating tokens in anticipation of a potential relief rally.

The surge in ETH buying pressure is significant, with over 500,000 ETH worth approximately $1.09 billion added to whale wallets in a matter of hours. This accumulation dwarfs other altcoins and is likely due to the expectation of a softer core CPI reading. The Ethereum Foundation's recent decision to stake 45,000 ETH for yield rather than selling has also reduced ongoing sell-side pressure from a major network entity.

On the daily chart, ETH is forming a cup-and-handle pattern inside a descending channel, which could indicate a potential breakout and renewed momentum. A close above $2,231 would signal early strength, while a move through $2,270 followed by a clean reclaim of $2,300 would validate the pattern.

In contrast to Ethereum's heavy accumulation, Uniswap (UNI) is experiencing significant selling pressure from whales. According to Nansen data, UNI whale wallets have cut holdings by 2.48% over the past week, aligning with broader DeFi profit taking and a bearish tone. The daily chart supports this view, with UNI trading inside a bear flag pattern since its March 13 high.

Chainlink (LINK) is also being quietly accumulated by whales ahead of the CPI print. Santiment data shows that LINK whale wallets have climbed by 1.89 million tokens in hours, translating to approximately $16.93 million in fresh buying. The accumulation mirrors the ETH whale pattern and could be driven by expectations of a macro catalyst.